The Baltimore-based MTB Group of Funds said Monday that it had bought two municipal bond funds from Friedman, Billings, Ramsey Group Inc. and added them to its municipal bond fund lineup.
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The purchase of FBR Maryland Tax-Free Portfolio and FBR Virginia Tax-Free Portfolio expands the family's regional municipal bond fund roster to Maryland, New York, Pennsylvania, and Virginia portfolios.
MTB Group said it has renamed Friedman Billings' Maryland and Virginia portfolios as MTB Maryland and Virginia municipal bond funds.
The MTB Group of Funds is available from M&T Securities Inc., a broker-dealer subsidiary of Buffalo's M&T Bank, and from other authorized broker-dealers.
